🚨$500M Liquidation Triggers Fresh Price Lows🚨
The cryptocurrency market has endured a major flush-out over the past 24 hours, with total liquidations surging to $527.75 million. The move was heavily leaned toward long positions, which accounted for $468.75 million of the total, while shorts saw a far smaller $59 million in losses, according to data from CoinGlass.
Ethereum emerged as the biggest casualty, with a staggering $201 million in positions wiped out — $177 million of which were long bets. Bitcoin followed with $110 million in liquidations, dominated by $106 million in longs. Together, these two top cryptocurrencies made up nearly 60% of the market’s total liquidations.
The spike in liquidations comes amid continued market volatility, with Bitcoin hovering around $113,200 and Ethereum trading near $3,474. Both assets have posted weekly losses — down 4.14% for BTC and 6.9% for ETH, signaling strong selling pressure.